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Loosening The Knot

Appraisal Buzz

Striving to look through the microscope of empirical thought, we must not forget that our subject is more than real property, it is real people. Imperfect though our efforts may be, we must work to untie the knot of each transaction and of the real estate market as a whole.

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Is Your “Crazy” Neighbor Lowering Your Home’s Value?

Cleveland Appraisal Blog

Could being located next to a property that is an eye-sore cause a loss in market value to your home? Part of our work as appraisers is to consider whether situations like this are influencing the market value of the home we are appraising. Of course, that’s not the same as market value.

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Understanding Zillow’s Square Footage is Important!

Cleveland Appraisal Blog

FINISHED SQUARE FOOTAGE On more than one occasion some who have read my appraisal reports felt that my opinion of value was too high. They felt that way because of sales they saw on Zillow that appeared to be comparable and sold for less than my opinion of the market value of the property I appraised. That’s okay.

Appraisal 406
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Zillow Zinged

Cleveland Appraisal Blog

One big one is their Zestimate’s inaccuracy at predicting market value, and more specifically, they were relying on their own Zestimates to make important decisions like buying & selling homes. They are excellent at marketing. Just think how much more difficult it would have been to flip in a declining market.”

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3 Things An Appraisal Should Tell You That You May Not Know

Cleveland Appraisal Blog

With the massive amount of technology available to anyone who can access the internet, you might wonder why bother getting a real property appraisal? Slap a few sales in a report, and make a few guesstimate adjustments to come up with their opinion of a property’s value? That can have a big impact on market value.

Appraisal 354
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The Difference Between Pricing a Property and Appraising It

Cleveland Appraisal Blog

They will analyze market conditions and they will look for comparable sales that have sold in the area of the subject property in recent months. They then use a price-per-square-foot method to determine the asking price for the property. If they end up too high, the home will likely sit on the market until the price is reduced.

Appraisal 302
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How to Appeal Your High Property Tax Assessment: A Homeowner’s Guide

Birmingham Appraisal

I thought I would take some time in this week’s blog post to explain the process you can take to appeal your high real property tax assessment if you think they are too high. These assessments are based on various factors, including the property’s size, location, condition, and comparable sales in the area.